What Works Now: Smart Moves When Buying a Home

When it comes to buying a home, one thing's for sure: Today's housing market is truly confusing. Every day consumers are bombarded with new information, soundbites like "historically low interest rates," "it's a buyer's market," "home values are at bottom," mixed with statistics that seem to say home sales are up or down -- even at the very same time. How can anyone make sense of this?

So, important questions remain. Consumers are understandably anxious about the housing market and need help cutting through the clutter to know when it's really the right time to buy. How do they avoid the pitfalls that have plagued some homebuyers in recent years? How do they know what works in this new real estate environment? How can they be sure that they are making the right decisions for their situation?

We thought it was time for new transparency in the home buying process. After collecting questions from consumers around the country and hearing their desires for more clarity and guidance, we gathered a couple of experts to answer some of the most common queries about buying a home.


Their discussion provides key takeaways for buying a home in today's market, by answering these important questions:

• Is it better to rent or to buy?
• What can you comfortably afford?
• What impact does your credit have on mortgage rates and your overall ability to buy a home? How can you improve your credit score?
• How much savings do you really need?
• What mortgage products are out there? How do you know which product is best for you?
• What can you expect during the closing process? How can you make sure you're prepared?

It turns out that there is no "one size fits all" solution when it comes to buying a home. Every individual has to determine what's best for his or her situation. But we hope our discussion will provide fresh insight and direction for consumers who are thinking of jumping in and making some smart moves when it comes to buying a home.